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Construction

Germany: building sector not expected to recover until 2005

Jul 14, 2003
14/07/03 - Although the German building sector lost a further fifth of its orders in March, the decline in building investments is expected to ease in 2003, resulting in a 2% fall compared to 6% last year.
Turnover forecasts confirm this trend with a 3.8% fall to 82.7 billion euro.

In spite of the positive forecasts for the second half of the year, Ignaz Walter, chairman of the German building industry association, believes that the crisis will continue until 2004.
He expects turnover to pick up again in 2005 and employment figures to stabilise in 2006.

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